How does industrial convergence affect regional high-quality development? Evidence from China

Industrial convergence refers to the dynamic process in which different industries gradually form new industries through mutual penetration and cross. As an advanced form of industrial synergy, industrial convergence is crucial in building a modern economic system. Using a panel data set covering China's 30 provinces during 2006-2018, this study explores the impact of industrial convergence on regional high-quality development. The findings suggest that: (1) Industrial convergence is conducive to high-quality development, and this conclusion remains robust after a series of tests. (2) For heterogeneity, the positive impact of industrial convergence on high-quality development is greater in regions with optimized energy structure and high investment outward, as does the regions with reasonable financial structure and moderate economic agglomeration. (3) Productivity improvement and industrial upgrading are the mediating paths by which industrial convergence promotes high-quality development, and the former plays a greater role.